Global Market Commentary, Analysis and Investments
Well… We saw another “take-down” of gold yesterday… It’s shameful to watch this going on… And while it was happening, I decided to take down some notes, so that I didn’t forget them front and center, this morning…
OK… Ever wonder why I’m so confused as to why gold goes down when it should be going up?
[Read more...]Well… There I was, in a room full of CFAs — people with minds that don’t work like mine, or should I say mine doesn’t work like theirs! And at the podium was James Bullard, President of the St. Louis Fed… And it hurts me to talk, and I would not have been able to talk loud enough for him to hear my question… Oh, the things that happen to me!
[Read more...]Mike told you yesterday about how the euro (EUR) had lost over 2-cents in the overnight markets, on fears that Italy, which is a much larger economy than Greece, is the next to visit the bailout doctor. The euro went up, when it was announced that the budget vote had passed, and it went down when it was announced that Berlusconi no longer had a majority government, and then it went right back up when it was announced that Berlusconi had stepped down. But that “relief rally” didn’t last long, as everyone began to imagine what it would cost to bailout Italy…
[Read more...]It’s raining on the Eurozone leaders again this morning. To get you caught up, let me go back to what happened since I signed off on Friday morning. First of all Greek Prime Minister (PM) Papandreou, did receive a positive Confidence Vote from his Parliament, regarding the Eurozone Grand Plan… But there was a caveat to the vote… It was approved only on the understanding that Papandreou would step down, and that a new government would be formed to take them into the next election on February 19, 2012.
[Read more...]It’s raining on the Eurozone leaders again this morning. To get you caught up, let me go back to what happened since I signed off on Friday morning. First of all Greek Prime Minister (PM) Papandreou, did receive a positive Confidence Vote from his Parliament, regarding the Eurozone Grand Plan… But there was a caveat to the vote… It was approved only on the understanding that Papandreou would step down, and that a new government would be formed to take them into the next election on February 19, 2012.
[Read more...]Good day… And a Wonderful Wednesday to you! I’m bailing on the trading desk today… Remember when I told you last week about too fast, can’t last with the currencies? Well… I think that was me and coming back to the office… Nevertheless, I’m here to give you the latest news on the currencies, metals, economies, and Chuckisms!
[Read more...]The euro (EUR) has gotten swatted back to the corner it came from after the Grand Plan was announced last Wednesday night… The single unit is doing the rope-a-dope, and fighting to stay on terra firma, but to no avail… The scary creature from Greece has deep-sixed the euro and thus the other currencies, even yen (JPY), Swiss francs (CHF), and gold…
[Read more...]Front and center, I can tell you the lofty figures the euro (EUR) reached Friday, after the US printed a 2.5% third quarter GDP, just couldn’t hold through the night last night… You see, there are just too many questions being thrown at the Eurozone leaders about how their “Grand Plan” is going to be carried out.
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Currency Rally Fades in Overnight Trading
The currency/risk on rally was quite strong yesterday, all day long! However, in the overnight markets, we’ve seen some profit taking, and reassessing of what they were doing, like pushing the euro to above 1.30. I say that because there’s still no agreement with Greece and the private creditors… I keep hearing and reading analysts, talking about how the Greece problem is unsolvable… OK… maybe it is… but if that’s true, then what about Illinois? Or California?
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